S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Beyond limitation – Sanction -Signed by wrong specifying authority – Beyond period of three years – TOLA is not applicable to AY.2015-2016 or any subsequent years- No power to review – Change of opinion – Order is quashed as bad in law . [ S. 147,148 ,148A(b), 148A(d)), 149(1)(b), 151(i), 151 (ii), Art . 226 , Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act. 2020 ( TOLA S. 3 )

S. 5 : Property held benami liable to confiscation-Benami property- Benami transactions-Benami Transactions-Attachment, adjudication and confiscation-Sections 3 and 5 which deal with criminal offences applicable effective only from 25-10-2016- Provisions are prospective. [S. 2(8), 2(9), 3, 24]

S. 2(9) : Benami Property Transactions-Amendment of Act in 2016 Provisions are substantive-Not applicable with retrospective effect- The amendments to the Prohibition of Benami Property Transactions Act, 1988 brought by the Benami Transactions (Prohibition) Amendment Act, 2016 do not have retrospective effect.[S. 2(9)(A) (2(9)(C), Art, 20, 136, 226]

Interpretation of taxing statutes -Interpretation which effectuates object and purpose of statute preferred.-Amendment by substitution-Rule against retrospectivity. [S. 153C]

S. 88 : Settlement of tax payable – Notice of demand – Petition against notice of demand -No due certificate was issued – Summary dismissal -No dues – Certificate under Kar Vivad Samadhan Scheme – Order of High Court not stating facts or adverting to contentions of parties -Order set aside. [S. 92, ITACT, S. 156, Art. 136, Art, 226]

S. 10(1) : Undisclosed Foreign Income or Assets -Interpretation – Fiscal statutes and in determining the tax liability, strict rules of interpretation – Notice issued beyond 30 Days of receiving information- Search and seizure – Response not filed -Enquiry cannot be truncated at stage of issue of notice – Guidelines issued by Central Board Of Direct Taxes -Information and Intelligence -Notice is valid -Writ petition is dismissed.[S. 8(1), 8(2), Income -tax Act, S. 132, 232(4), 153A, Art. 226]

S. 10(1) : Undisclosed Foreign Income or Assets-No Evidence of undisclosed Foreign income -Notice Issued Under Black Money Act is not valid-High Court can quash a notice if issued without jurisdiction-Interpretation of Taxing Statutes -Strict Interpretation. [S. 8(1), 8(2), Income -tax Act, S. 132, 232(4), 153A, Art. 226] Constitution Of India, Art. 226.

S. 276C : Offences and prosecutions – Wilful attempt to evade tax –
Application for bail -Time to surrender before Trial court and consider the application for bail -SLP of the assessee is dismissed. [S. 276(2) 278EE, Code Of Criminal Procedure, 1973, S. 482. [Art. 136, 226]

S. 271C : Penalty – Failure to deduct at source -Failure or delay in remittances of tax deducted at source -Attracts interest and prosecution- No provision for levy of penalty- Interpretation Of Taxing statutes -Penal provisions -Strict construction. [S. 115O(2), 194B, 201(1A), 271C, 276B]

S. 271(1)(c) : Penalty -Concealment -Cash sales – Value Added Tax Authorities accepting cash Sales- Independent finding of fact that the assessee had introduced unaccounted income as cash sales —Inaccurate particulars of income -Levy of penalty affirmed by High court -SLP of assessee is dismissed. [S.80IAC, Art, 136]